ICSE Class 9 Answered

Economic activities are the set of activities carried out by human resources to satisfy their needs. It is essentially concerned with the production, exchange and consumption of goods and services. For example, businessmen may make a profit or experience a loss while labourers receive wages and salaries as a remuneration of services rendered by them.

Activities which have no economic elements or are not concerned with money and wealth are known as non-economic activities. There are various types of non-economic activities such as social activities, political activities, religious activities, charitable activities, parental activities and recreational activities.